Crypto analyst Kaleo has made a positive prediction for the largest memecoin, Dogecoin (DOGE). The anonymous crypto analyst believes that DOGE is preparing for an upward trend. Here are the analyst’s insights and the expected target level for the largest memecoin and the 8th largest altcoin.
Kaleo is preparing for a rise in DOGE
Kaleo highlighted on his personal social media account X (formerly known as Twitter) that other altcoins have made strong gains in the past few days and predicted that DOGE will join this trend. According to the analyst, the short-term future of DOGE may involve consolidation and sideways movements before any potential surge. Kaleo expressed his expectations with the following statement:
I want you to look at how beautiful Dogecoin’s USD chart is. I find it hard to believe that Dogecoin will not break out of its current range as altcoins start to explode. There hasn’t been much change for Dogecoin compared to last night. I am ready for the next few days to be boring if necessary, before a strong surge.
Based on the graph shared by Kaleo, it is anticipated that DOGE will rise above $0.083 by November 13th and potentially gain over 12% from current prices in a short period of time.
Analyst predicts a rise in DOGE/BTC trading pair: Target level of 0.00000550
Kaleo stated that the expectation of a rise in Dogecoin is supported by the price movement of the DOGE/BTC trading pair, which represents the value of DOGE against Bitcoin (BTC). According to the analyst, the DOGE/BTC trading pair has currently broken a year-long descending resistance trend line and is trading above this trend line.
Based on Kaleo’s chart analysis, it seems that the DOGE/BTC trading pair could rise to the level of 0.00000550 (equivalent to $0.19). Currently, the trading pair is trading at approximately 0.00000209 BTC, which is equivalent to around $0.074.
